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Three bids filed to buy Asiana Airlines
Asiana Airlines parent company Kumho Asiana Group has received a trio of initial bids for the debt-laden airline.
One is Jeju Air backer Aekyung Group.
The other bids came from Mirae Asset Daewoo and activist fund Korea Corporate Governance Improvement.
The bids are non-binding at this stage while Kumho assesses the merits of each.
It will then decide to shortlist one or more bids.
Asiana also comprises two low-cost units, Air Busan and Air Seoul, which has sparked the interest Aekyung Group.
Asiana’s main lender, the state-owned Korea Development Bank, wants to offload all three airline brands.
Asiana’s financial troubles came to light earlier this year after an accounting scandal which cost one of its co-CEOs his job.
Weak demand, industrial action and escalating tensions between Korea and Japan, leading to route suspensions, have all left Asiana’s financial performance in the doldrums.
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Editor for TravelMole North America and Asia pacific regions. Ray is a highly experienced (15+ years) skilled journalist and editor predominantly in travel, hospitality and lifestyle working with a huge number of major market-leading brands. He has also cover in-depth news, interviews and features in general business, finance, tech and geopolitical issues for a select few major news outlets and publishers.
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